Globe Life (NYSE:GL) Given New $225.00 Price Target at TD Cowen

Globe Life (NYSE:GLGet Free Report) had its price target increased by research analysts at TD Cowen from $215.00 to $225.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 22.25% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings cut Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Jefferies Financial Group increased their target price on Globe Life from $147.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Piper Sandler lifted their price target on Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company upped their price target on shares of Globe Life from $172.00 to $193.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.60.

Get Our Latest Analysis on Globe Life

Globe Life Price Performance

Globe Life stock traded down $0.29 during trading hours on Wednesday, hitting $184.05. 317,819 shares of the stock were exchanged, compared to its average volume of 546,151. The stock has a market capitalization of $14.29 billion, a P/E ratio of 12.74 and a beta of 0.47. The business’s 50-day moving average is $167.76 and its two-hundred day moving average is $152.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.07 and a current ratio of 0.07. Globe Life has a 12 month low of $122.48 and a 12 month high of $191.55.

Globe Life (NYSE:GLGet Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.46 by ($0.03). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. Globe Life had a return on equity of 20.94% and a net margin of 19.38%.The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.07 earnings per share. Equities research analysts expect that Globe Life will post 15.64 EPS for the current fiscal year.

Insider Activity at Globe Life

In related news, CEO Frank M. Svoboda sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $166.68, for a total value of $1,666,800.00. Following the transaction, the chief executive officer owned 54,020 shares in the company, valued at $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl Alston sold 8,258 shares of Globe Life stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $179.24, for a total value of $1,480,163.92. Following the completion of the sale, the director owned 16,621 shares of the company’s stock, valued at approximately $2,979,148.04. The trade was a 33.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 124,187 shares of company stock valued at $19,529,414 over the last quarter. 2.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Globe Life

Several institutional investors have recently modified their holdings of GL. Compound Planning Inc. increased its position in Globe Life by 4.3% during the 4th quarter. Compound Planning Inc. now owns 1,968 shares of the company’s stock worth $275,000 after buying an additional 82 shares during the period. Root Financial Partners LLC grew its stake in shares of Globe Life by 23.3% in the first quarter. Root Financial Partners LLC now owns 439 shares of the company’s stock valued at $61,000 after acquiring an additional 83 shares in the last quarter. Transcend Capital Advisors LLC increased its position in Globe Life by 3.9% during the fourth quarter. Transcend Capital Advisors LLC now owns 2,265 shares of the company’s stock worth $317,000 after acquiring an additional 84 shares during the period. Natural Investments LLC raised its stake in Globe Life by 2.6% in the 4th quarter. Natural Investments LLC now owns 3,452 shares of the company’s stock worth $482,000 after purchasing an additional 87 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Globe Life by 5.6% in the 4th quarter. Parallel Advisors LLC now owns 1,651 shares of the company’s stock worth $231,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 81.61% of the company’s stock.

About Globe Life

(Get Free Report)

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.

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